World News
Shell Lowers Carbon Emission Reduction Ambitions
Global energy producer Shell has lowered its expectations for carbon emission reductions over the next seven years.
The firm published a revised energy transition on Wednesday, setting a target of a 15-20% reduction in the net carbon intensity of its energy products from 2016's levels by 2030.
The previous target was for a reduction of 20% by 2030.
The company also set aside a previously stated aim of cutting carbon intensity by 45% by 2035.
In the strategy document Shell reiterated its support for LNG as an alternative bunker fuel, while casting doubt over other alternatives' viability.
"LNG is the lowest-carbon marine fuel available at scale today and offers significant greenhouse gas (GHG) emissions reductions compared with conventional fuels," the company said.
"LNG also offers a long-term decarbonisation pathway through bio-LNG when the supply is scaled up.
"We believe demand for LNG in shipping will grow, including for liquefied biomethane.
"Fuels such as methanol and ammonia could be options for shipping in the long term, but we see challenges with both of them."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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